NN, INC. (NASDAQ:NNBR) Files An 8-K Entry into a Material Definitive Agreement

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NN, INC. (NASDAQ:NNBR) Files An 8-K Entry into a Material Definitive Agreement

NN, INC. (NASDAQ:NNBR) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01.

On June 11, 2019, NN, Inc., a Delaware corporation (the “Company”), certain Company subsidiaries named therein, SunTrust Bank, as administrative agent (“SunTrust”), and certain lenders named therein entered into that certain Amendment No. 7 to the Amended and Restated Credit Agreement (the “Amendment”), which amended the Company’s existing amended and restated credit agreement, dated as of September 30, 2016, by and among the Company, SunTrust, as administrative agent, and certain lenders from time to time party thereto (as amended, the “Amended and Restated Credit Agreement”).

The Amendment (i) reduced the amount available under the Company’s senior secured revolver from $125 million to $110 million, (ii) limits availability under the Company’s senior secured revolver to $100 million until July 1, 2020, unless a certain consolidated net leverage ratio is achieved, and (iii) increased the consolidated net leverage ratios for quarterly periods ending on or after March 31, 2019.

The foregoing summary is qualified in its entirety by reference to the full text of the Amendment, which is included as Exhibit 10.1 hereto and incorporated herein by reference.

The information set forth in Item 1.01 of this Current Report on Form 8-K above is incorporated herein by reference.

(d) Exhibits

10.1    Amendment No. 7 to Amended and Restated Credit Agreement, dated as of June  11, 2019, by and among NN, Inc., certain NN, Inc. subsidiaries named therein, SunTrust Bank, as administrative agent, and certain lenders named therein


NN INC Exhibit
EX-10.1 2 d765702dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 AMENDMENT NO. 7 TO AMENDED AND RESTATED CREDIT AGREEMENT This AMENDMENT NO. 7 TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is entered into as of June 11,…
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About NN, INC. (NASDAQ:NNBR)

NN, Inc. is a diversified industrial company. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. Within its Precision Bearing Components Group, the Company manufactures and supplies high precision bearing components, consisting of balls, cylindrical rollers, tapered rollers, spherical rollers and metal retainers for bearing and constant velocity-joint manufacturers. Within its Precision Engineered Products Group, the Company designs and manufactures a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets. Within its Autocam Precision Components Group, the Company manufactures highly engineered precision metal components and subassemblies for the automotive, heating, ventilating and air conditioning, fluid power and diesel engine end markets.